When Jean-Ann Panton initially came before the Supreme Court on Friday, she was remanded in custody. Panton is the former worker at the center of a multi-billion dollar scam at Stocks and Securities Ltd.
On February 24, Panton is expected to appear in court once more.
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The Larceny Act, the Proceeds of Crime Act (POCA), the Forgery Act, and the Computer Crimes Act were allegedly broken by Panton, according to a report from the Financial Investigations Division (FID) this morning.
The FID noted, “As indicated in a previous communication, the case is complex for three main reasons; the number and types of accounts affected; the number and types of transactions conducted on the affected accounts; and the length of time (over a decade) during which questionable actions were taken against some of the affected accounts.”
Selvin Hay, the Chief Technical Director of the FID, stated in a statement on Friday: “As the investigation progresses, we wish to assure the public that the work into unraveling this fraud is thorough and includes collaboration with local and international agencies. Various lines of inquiry are being pursued with a view to identifying all connected parties and bringing them to justice. As the investigation continues we will seek to lay additional charges, not only against Ms. Panton but against other perpetrators.”
